Partial Payment Settlement Calculator
When a party pays part of what they owe, know exactly which bills it clears, what remains, the interest on overdue bills, and what a one-time settlement should be.
QUICK ANSWERAdjust part payments oldest bill first (FIFO): the payment clears the earliest invoice, then the next, so remaining dues are the newest bills. Interest on overdue balance = balance × annual rate × days beyond credit period ÷ 365. A one-time settlement offer is the total outstanding minus a small discount.
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Want this synced, automatic and collecting payments?
- Same workflow in a free FastFee account, on every device and for your whole team
- Automatic WhatsApp reminders before and after due dates
- Payment links, UPI and AutoPay with auto receipts and live “paid” status
What you get free in the Partial Payment Settlement Calculator
- ✅ FIFO or proportional
- ✅ Bill-wise balance
- ✅ Overdue interest
- ✅ Advance if overpaid
- ✅ Settlement offer
- ✅ Print & Excel
How to use the Partial Payment Settlement Calculator
- STEP 1Add pending billsBill no, date, amount and what was already paid.
- STEP 2Enter the paymentAmount received now and how to adjust it.
- STEP 3Set termsCredit period, interest rate and settlement discount.
- STEP 4SharePrint the adjustment for the party.
Frequently asked questions
Can I charge interest on late payment?
Yes if your invoices state the credit period and interest. MSME-registered suppliers are also protected by the MSMED Act, which entitles them to compound interest at three times the RBI bank rate on payments delayed beyond 45 days.
Is this tool free? Do I need to sign up?
Yes, it is completely free with no login and no limit on entries. Signing up for FastFee is optional. The free plan keeps your records synced across devices; automatic WhatsApp reminders, UPI AutoPay and team logins are on FastFee Premium.
Where is my data stored?
Only in your browser on this device (local storage). Nothing is uploaded to FastFee. Clearing browser data deletes it, so export a CSV or PDF backup regularly.
Need the full software?
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